Stanbic IBTC Stockbrokers, a subsidiary of Stanbic IBTC Holdings Plc, has enlightened Nigerians on the potentials of investing in the stock market.
The company held virtual event with the theme, ‘You Don’t Know About Stocks? The goal of the session was to acquaint individuals new to the stock market with basic stockbroking terms, useful tips for stock trading and how to use the Stanbic IBTC stockbroking app.
The head, Sales of Stanbic IBTC Stockbrokers, Afolabi Gbenro, stated the importance of diversifying investments in stocks, listing factors that affect the prices of stocks which include supply, demand, news, and investor sentiments.
According to him, the benefits of investing include dividend yield, capital appreciation, equity share holder privileges and utilising investments as collateral.
He stressed the importance of research and advised Nigerians to conduct their own research and evaluate companies before investing.
On considerations before entering the stock market, he said: “you would need capital, investment objective, and risk profile assessment to determine the kind of investment you should venture into. You would also need to stay abreast of market updates.”
The head, Mandate and Settlements, Stanbic IBTC Stockbrokers, Benjamin Jesumuyiwa, urged Nigerians to invest in stocks to reap long term rewards, saying, the stock market makes it easier to buy shares of companies and they can be purchased through a broker or via online platforms.
The founder of Money Africa, Tosin Olaseinde commended Stanbic IBTC for making stock trading accessible and affordable for Nigerians, as individuals can open a stockbroking account with zero naira.
She advised beginners to invest while gaining knowledge about the stock market and recommended Exchange Traded Funds (ETFs) as an entry point especially for people who have an aversion to high-risk investments.
She said: “as a beginner, the best place to start is the Exchange Traded Funds (ETFs). It is a mixture of different equities in one stock. It offers you the opportunity to participate in a couple of stocks without buying everything individually.”